Fast-fashion giant H&M is developing a new line of children's clothing that partly benefits UNICEF. Twenty-five per cent of the proceeds from H&M's "All for Children" line, which hits stores in October, will go to the charity. Reports Women's Wear Daily, the funds will be used "to promote children's rights to education and protection in vulnerable communities," particularly in southern India and Bangladesh. It cannot have escaped H&M's notice that Bangladesh and India are two of the countries where many of the child laborers who are employed in terrible circumstances making clothing for foreign retailers — including probably H&M — live; it's not impossible that children might even end up sewing some of the very clothes intended to be sold to fund UNICEF's anti-child labor initiatives. The rag trade is notoriously dangerous and low paying to workers of all ages; last year, 21 Bangladeshi workers died in a fire at a garment factory that supplied H&M and other brands. [WWD]H&M had a decent quarter: same-store sales rose 11% and 2% over last year in April and May, respectively, and revenue rose 2% overall, to $4.4 billion. [WWD]
Meanwhile, according to a new book, "the average female invests in 62lb of clothing each year, has upwards of 20 garments hanging in her wardrobe that she has never worn and owns four times the amount [of clothing] today than she did in 1980." These numbers are based on studies conducted at the University of Cambridge. Furthermore: "Women are expected to spend £133,640 in a lifetime on fashion. In 2007, three pairs of jeans were sold each second. Between 2001 and 2005, while spending on womenswear rose by 21 per cent, the price of individual items dropped by 14 per cent." [Telegraph]

Rick Owens interviewed Kris Van Assche for Interview and talked about how his parents don't look at his life-sized penis-statue when they visit Paris. Owens says he invites his parents to his runway shows twice a year. Van Assche asked how they react, and Owens — who has talked about his loving but complicated relationship with his conservative, religious parents before — replied, "Well, they're a little puzzled. But they try to be kind. It's good for them to see the showroom with the people that we work with as a big family." Van Assche interjected, "And that it's happening in a good environment — like, not crazy." "Yeah, um, right," said Owens. Van Assche asked if Mr. and Mrs. Owens ever go to see the nude wax statue of himself that Owens commissioned for his flagship store, and the designer replied, "Yeah, they don't look. There are a lot of things that they've chosen not to look at in my life. The way that my mom puts it, she goes, 'Well, as long as nobody gets hurt.'" [Interview]

Oscar de la Renta — who was once offered the position of Dominican ambassador to the U.S. — is the new "face" of Mexico City. [Racked]

You can kinda tell the Daily News was dying to headline this story, "OMG LESBIANS," but it's actually quite a sweet write-up of two ladies and their clothing line for ladies who like other ladies. [NYDN]

Alexander Wang is planning to open a store in Beijing in early 2012. It will be the designer's second store worldwide. [WWD]

The luxury market in the U.K. is forecast to grow by 57% by 2015, to a total value of $15.2 billion. More than a quarter of all luxury sales are to international tourists. [WWD]